	<h1>Terms of Service</h1> <p>THIS AGREEMENT SETS FORTH THE TERMS AND CONDITIONS UNDER WHICH KashFX.com WILL PROVIDE ITS ACCOUNT SERVICES. THIS AGREEMENT DESCRIBES USER&#146;S&nbsp;RIGHTS AND OBLIGATIONS WHEN USING THESE SERVICES. USER MUST READ THE AGREEMENT CAREFULLY AND BE&nbsp;SURE USER UNDERSTANDS THESE TERMS AND CONDITIONS.</p>
	<p>CREATION OR&nbsp;USE OF&nbsp;A&nbsp;KashFX.com ACCOUNT MEANS USER ACCEPTS ALL THE TERMS AND CONDITIONS OF&nbsp;THIS AGREEMENT.</p>
	<p>THE PARTIES TO&nbsp;THIS AGREEMENT ARE THE ISSUER AND THE USER.</p>
	<h2 id="1">1.&nbsp;Definition of&nbsp;Terms</h2>
	<p>EUR backing the KashFX.com currencies is&nbsp;held in&nbsp;trust by&nbsp;KashFX.com Inc. for the exclusive benefit of&nbsp;all KashFX.com account holders collectively.</p>
	<p>1.1. "KashFX.com"; means the currency backed by&nbsp;EUR; the word "KashFX.com"; is&nbsp;a&nbsp;registered trademark.</p>
	<p>1.2. "Issuer"; means KashFX.com., a&nbsp;British Virgin Islands (BVI) Incorporation.</p>
	<p>1.3. "Primary User"; means the User that creates the KashFX.com account. Primary User is&nbsp;the owner of&nbsp;the account from the perspective of&nbsp;Issuer. Primary User may add additional Users to&nbsp;the account. The Issuer shall treat all such additional Users as&nbsp;agents or&nbsp;delegates of&nbsp;Primary User.</p>
	<p>1.4. "Permissions"; means account access privileges granted by&nbsp;Primary User to&nbsp;designated additional Users. Unless Primary User specifically limits permissions, such additional Users have the same privileges as&nbsp;Primary User with certain exceptions, including, but not limited to&nbsp;(1)&nbsp;the ability to&nbsp;reassign Primary User status and (2)&nbsp;the ability to&nbsp;close the account.</p>
	<p>1.5. "User"; means any user accessing a&nbsp;KashFX.com account with permissions granted by&nbsp;Primary User.</p>
	<p>1.6. "Available Balance"; means the total balance of&nbsp;a&nbsp;particular KashFX.com account minus any accrued fees.</p>
	<p>1.7. "Spend"; means the act of&nbsp;transferring value between KashFX.com accounts. Spends are accounted in&nbsp;EUR (or&nbsp;other foreign currency equivalent) and convey title to&nbsp;that precise amount of&nbsp;value. Spends may not exceed Available Balance.</p>
	<p>1.8. "Passphrase"; means a&nbsp;series of&nbsp;characters, known only to&nbsp;User, deemed of&nbsp;suitable complexity as&nbsp;determined from time to&nbsp;time by&nbsp;Issuer. For purposes of&nbsp;this agreement, Passphrase also refers to&nbsp;other authentication mechanisms to&nbsp;which User and Issuer mutually agree.</p>
	<h2 id="2">2.&nbsp;Conditions of&nbsp;Use</h2>
	<p>User acknowledges that (i)&nbsp;KashFX.com is&nbsp;not a&nbsp;bank (ii)&nbsp;KashFX.com accounts are not insured by&nbsp;any government agency and (iii) KashFX.com is&nbsp;not subject to&nbsp;banking regulations.</p>
	<p>2.1. User Obligations. User agrees that all User obligations under this Agreement are the joint and several obligations of&nbsp;all the Users with greater than read-only access to&nbsp;a&nbsp;particular account.</p>
	<p>2.2. Identifying Information. User must provide Issuer with valid and accurate identifying information as&nbsp;determined from time to&nbsp;time by&nbsp;Issuer.</p>
	<p>2.3. Protection of&nbsp;Passphrase</p>
	<p>2.3.1. User is&nbsp;responsible for the protection of&nbsp;User&#146;s&nbsp;Passphrase that gives access to&nbsp;User&#146;s&nbsp;KashFX.com account. User agrees that, in&nbsp;the event of&nbsp;the loss or&nbsp;misuse of&nbsp;User&#146;s&nbsp;Passphrase, Issuer disclaims all liability for such loss. User shall indemnify and hold harmless Issuer for relying on&nbsp;transactions authorized using User&#146;s&nbsp;Passphrase prior to&nbsp;such time as&nbsp;User notifies Issuer that User&#146;s&nbsp;Passphrase has been compromised.</p>
	<p>2.3.2. User acknowledges and accepts that in&nbsp;the case of&nbsp;a&nbsp;claim of&nbsp;unauthorized Spends, the presumption shall be&nbsp;that all Spends are authorized by&nbsp;and are the liability of&nbsp;the User.</p>
	<p>2.3.3. User must not divulge User&#146;s&nbsp;Passphrase to&nbsp;anyone else, nor may User use anyone else&#146;s&nbsp;Passphrase. User agrees that Issuer will treat any person accessing User&#146;s&nbsp;account using User&#146;s&nbsp;Passphrase as&nbsp;the User.</p>
	<p>2.3.4. Issuer is&nbsp;not responsible for losses incurred by&nbsp;User as&nbsp;the result of&nbsp;User&#146;s&nbsp;misuse of&nbsp;a&nbsp;Passphrase.</p>
	<p>2.3.5. User agrees that any action taken by&nbsp;any person using User&#146;s&nbsp;Passphrase shall be&nbsp;binding on&nbsp;User and all other parties with an&nbsp;interest in&nbsp;that account.</p>
	<p>2.4. Irrevocability of&nbsp;Spends</p>
	<p>2.4.1. User agrees that all Spends initiated by&nbsp;User are final and not reversible.</p>
	<p >2.4.2. User is&nbsp;responsible for all Spends from User&#146;s&nbsp;KashFX.com account, except as&nbsp;provided in&nbsp;section 2.3, even if&nbsp;the instructions provided by&nbsp;User are incorrect.</p>
	<p style="font-weight: bold">2.4.3 User understands and acknowledges that user is aware that KashFX.com spends are irrevocable and that user agrees to follow the policy of buyer beware ("Caveat Emptor") when using KashFX.com at various merchant sites, especially merchants such as gaming or gambling or "HYIP" and other types of investment or chance games or matrixes or Ponzis (pyramid schemes), which are identifiable by their promises of extremely high (more than 1% per day) rates of return, and that should user still wish to deal with such merchants that it is at user's own risk.</p>
	<p>2.4.4 User understands and acknowledges that KashFX.com is registered and is 100% domiciled in British Virgin Islands (BVI) and that KashFX.com follows the laws of British Virgin Islands (BVI), including, but not limited to, allowing gaming and gambling businesses to use KashFX.com as a payment system, which may not be acceptable or legal in user's own jurisdiction.</p>
	<p>2.4.5 User understands and acknowledges that KashFX.com does not act as judge or jury or as law enforcement or as a court of law with respect to any disputes between users of KashFX.com. User understands that any such involvement by KashFX.com in the affairs of users of the system could expose KashFX.com to civil legal liability, or possibly criminal liability, even if KashFX.com believes that its actions are in good faith.</p>
	<p>2.4.6 User understands and acknowledges that KashFX.com has posted fraud alerts on its home page and that links to the fraud alerts and these Terms of Service appear (and must be acknowledged) before any spend or transfer can be made in user's KashFX.com account. These fraud alerts specifically warn users not to use KashFX.com to make spends or internal transfers to Ponzi or "HYIP" or other high yield investment-type programs and to make sure that user is made aware of the dangers of sending funds to unknown or poorly known internet sites. User has the right to completely ignore these warnings and instructions if user chooses so to do, but user acknowledges that user does NOT have the right to then blame KashFX.com for not physically restraining user from doing foolish things with user's funds or for not policing the internet.</p>
	<p>2.5. Disputes Between Users</p>
	<p>2.5.1. Any disputes that arise between Users are not the responsibility of&nbsp;Issuer.</p>
	<p>2.5.2. User acknowledges Issuer does not make any guarantees regarding purchases made when using the KashFX.com service. User acknowledges that Issuer does not ensure the quality, safety, or&nbsp;legality of&nbsp;any merchandise received, nor that the seller will even ship the merchandise.</p>
	<p>2.6. Indemnification</p>
	<p>User agrees to&nbsp;indemnify and hold harmless Issuer, its agents, affiliates, officers, directors and employees from any claim or&nbsp;demand whatsoever relating to&nbsp;or&nbsp;arising out of&nbsp;User&#146;s&nbsp;use of&nbsp;the KashFX.com system, except for any loss caused by&nbsp;willful misconduct of&nbsp;Issuer.</p>
	<h2 id="3">3.&nbsp;Obligations of&nbsp;Issuer</h2>
	<p>Issuer shall honor these obligations:</p>
	<p>3.1. Reserve Requirement</p>
	<p>3.1.1. All funds in&nbsp;circulation shall be&nbsp;backed 100% at&nbsp;all times with unencumbered EUR (or&nbsp;other currency that is&nbsp;held in&nbsp;User&#146;s&nbsp;KashFX.com account).</p>
	<p>3.1.2. Under no&nbsp;circumstances will Issuer abrogate its obligation to&nbsp;back all electronic funds with (at&nbsp;least) 100% reserve EUR.</p>
	<p>3.2. User Interface</p>
	<p>Issuer will ensure that a&nbsp;secure online User interface is&nbsp;made available.</p>
	<p>3.3. Exchange Rates</p>
	<p>Strictly for User&#146;s&nbsp;convenience, Issuer may allow Spend order entry in&nbsp;terms of&nbsp;national currency units using an&nbsp;exchange rate specified by&nbsp;Issuer. Posted exchange rates are only for convenience of&nbsp;User. Issuer does not make a&nbsp;market for exchange and Issuer does not represent that anyone will make a&nbsp;market honoring the specified exchange rates.</p>
	<p>3.4. Privacy</p>
	<p>3.4.1. Issuer will produce and maintain a&nbsp;Privacy Policy, which will be&nbsp;publicly available at&nbsp;the KashFX.com website. In&nbsp;the event of&nbsp;any conflict between the Privacy Policy and this Agreement, the terms of&nbsp;this Agreement will control.</p>
	<p>3.4.2. Unless (1)&nbsp;otherwise approved by&nbsp;User or&nbsp;(2)&nbsp;ordered by&nbsp;a&nbsp;court or&nbsp;arbitration body of&nbsp;acceptable jurisdiction, as&nbsp;determined by&nbsp;Issuer, Issuer shall not reveal User&#146;s&nbsp;contact or&nbsp;identifying information or&nbsp;transaction history to&nbsp;any third party.</p>
	<p>3.4.3. Issuer will not store Passphrase in&nbsp;plaintext. No&nbsp;employee of&nbsp;Issuer will ever ask for User&#146;s&nbsp;Passphrase.</p>
	<p>3.4.4&nbsp;User agrees that the only way to&nbsp;recover access to&nbsp;a&nbsp;User Account where the Passphrase or&nbsp;Login ID&nbsp;have been lost is&nbsp;by&nbsp;following the password recovery procedure established by&nbsp;Issuer. User is&nbsp;responsible for being able to&nbsp;meet the requirements and costs for the password recovery. KashFX.com will not be&nbsp;responsible in&nbsp;any way for any of&nbsp;User&#146;s&nbsp;losses due to&nbsp;User failing to&nbsp;meet the requirements for password recovery.</p>
	<h2 id="4">4.&nbsp;Rights of&nbsp;Issuer</h2>
	<p>Issuer reserves the following rights:</p>
	<p>4.1. Governance Model</p>
	<p>Issuer reserves the right to&nbsp;appoint third parties to&nbsp;fulfill specified governance roles, including, but not limited to:&nbsp;(1)&nbsp;Trust, (2)&nbsp;Auditor, (3)&nbsp;Operator.</p>
	<p>4.2. Value Limits</p>
	<p>Issuer may set value limits (balance, spends, etc.) on&nbsp;a&nbsp;KashFX.com account based on&nbsp;the sufficiency of&nbsp;the identifying information provided by&nbsp;User or&nbsp;by&nbsp;order of&nbsp;a&nbsp;court or&nbsp;arbitration body acceptable to&nbsp;issuer. Issuer may restrict User&#146;s&nbsp;ability to&nbsp;use more than one KashFX.com account in&nbsp;an&nbsp;attempt to&nbsp;circumvent the value limit.</p>
	<p>4.3. Fees</p>
	<p>Issuer reserves the right to&nbsp;assess and collect the following fees from User&#146;s&nbsp;account:</p>
	<p>4.3.1. Monthly Fee&nbsp;&#151; collected by&nbsp;Issuer monthly from user&#146;s&nbsp;account.</p>
	<p>4.3.2. Spend Fee&nbsp;&#151; deducted by&nbsp;Issuer in&nbsp;EUR from the recipient account of&nbsp;a&nbsp;Spend.</p>
	<p>4.3.3. Other Administrative Fees&nbsp;&#151; collected by&nbsp;Issuer for providing support to&nbsp;User when User contacts Issuer and Issuer is&nbsp;not at&nbsp;fault.</p>
	<p>4.3.4. Funds Recovery Process and Fees.</p>
	<p>Upon satisfying all legal requirements necessary to recover funds, KashFX.com will, if at all possible, attempt to recover the funds in question. Common legal requirements include, but not limited to: valid court orders, valid law enforcement orders, notarized copies of all requests submitted in writing and notarized copies of all IDs. In most cases all originals have to be submitted via snail mail, as electronic copies sent by e-mail are not acceptable. If by any reason KashFX.com is requested to recover any funds by any reason, a one-time 10% Recovery fee will be charged in order to cover any and all expenses of the recovery process.</p>
	<p>4.4. Escheat</p>
	<p>Issuer will not escheat inactive KashFX.com accounts. An&nbsp;inactive account with a&nbsp;balance shall remain dormant forever, other than continued assessment of&nbsp;fees, unless and until an&nbsp;heir presents valid documentation entitling the heir to&nbsp;inherit the account.</p>
	<p>4.5. Force Majeur</p>
	<p>Issuer will not be&nbsp;responsible for delays or&nbsp;failures in&nbsp;the transmission, receipt or&nbsp;execution of&nbsp;orders, payments, deliveries or&nbsp;information due to&nbsp;events beyond its control. The obligations of&nbsp;this contract precede any government enactment.</p>
	<p>4.6. Right of&nbsp;Association</p>
	<p>Issuer reserves the right to&nbsp;refuse service to&nbsp;particular individuals or&nbsp;entities, at&nbsp;its sole discretion, with or&nbsp;without cause.</p>
	<p>4.6.1. Refusal with Cause</p>
	<p>Issuer will block any transactions that increment or&nbsp;decrement the balance in&nbsp;User&#146;s&nbsp;KashFX.com account ("Freeze"), with cause:</p>
	<p>4.6.1.1. Issuer will Freeze the KashFX.com account of&nbsp;User if&nbsp;User uses, or&nbsp;attempts to&nbsp;use the KashFX.com service in&nbsp;connection with tampering, cracking, modifying or&nbsp;otherwise corrupting the security or&nbsp;functionality of&nbsp;the KashFX.com system. Additionally, User will be&nbsp;subject to&nbsp;damages and other penalties, including criminal prosecution where available and the notification of&nbsp;the general public of&nbsp;User&#146;s&nbsp;actions, at&nbsp;the sole discretion of&nbsp;Issuer.</p>
	<p>4.6.1.2. Issuer will Freeze or&nbsp;remove a&nbsp;Freeze from a&nbsp;KashFX.com account, if&nbsp;ordered to&nbsp;do&nbsp;so&nbsp;by an&nbsp;order from a&nbsp;court or&nbsp;arbitration body of&nbsp;acceptable jurisdiction, as&nbsp;determined by&nbsp;Issuer.</p>
	<p>4.6.1.3. Fees will continue to&nbsp;be&nbsp;assessed on&nbsp;a&nbsp;frozen account.</p>
	<p>4.7. Trademarks</p>
	<p>Issuer retains all right, title, and interest in&nbsp;and to&nbsp;trademarks. User shall only use KashFX.com trademarks with the express permission of&nbsp;Issuer. User shall not use the trademarks in&nbsp;any manner that is&nbsp;disparaging to&nbsp;KashFX.com. Under no&nbsp;circumstances may a&nbsp;User alter, modify, or&nbsp;change Issuer&#146;s&nbsp;trademarks.</p>
	<p>4.8&nbsp;Exchange services (i. e. exchanging national currency to&nbsp;KashFX.com and vice versa and other currencies to&nbsp;KashFX.com and vice versa) are provided by&nbsp;independent Exchange Providers</p>
	<p>4.9. Privacy and Confidentiality Policy</p>
	<p>4.9.1&nbsp;KashFX.com recognizes the User&#146;s&nbsp;right to&nbsp;confidentiality and privacy.</p>
	<p>4.9.2&nbsp;Unless ordered by&nbsp;a&nbsp;ruling body of&nbsp;competent jurisdiction acceptable to&nbsp;Issuer, Issuer shall not reveal User&#146;s&nbsp;contact or&nbsp;identifying information or&nbsp;transaction history to&nbsp;any third party.</p>
	<p>4.9.3&nbsp;Issuer will ensure that User has the ability to&nbsp;examine User&#146;s&nbsp;contact and identifying information and make updates and changes when necessary.</p>
	<p>4.9.4&nbsp;Issuer will not store any User details, including but not limited to&nbsp;account history, contact or&nbsp;identifying information, or&nbsp;Personal Identification Number(s)&nbsp;in&nbsp;unencrypted plain text under any circumstances.</p>
	<p>4.9.5&nbsp;User agrees that KashFX.com has the right to&nbsp;monitor the KashFX.com Network electronically from time to&nbsp;time in&nbsp;order to&nbsp;operate the System properly.</p>
	<p>4.9.6&nbsp;Issuer will email User only if (a) User's email address is either
	listed with Issuer as someone who has expressly shared this address for
	the purpose of receiving information in the future ("opt-in"), or (b)
	User has registered or otherwise have an existing relationship with
	Issuer. Issuer respects User's time and attention by controlling the
	frequency of the mailings.</p>
	<p>4.9.7&nbsp;To cease receiving Issuer's emails User must login to his or her
	account and disable all email notifications, which by default are enabled.</p>
	<h2 id="5">5.&nbsp;Third Party Links</h2>
	<p>5.1&nbsp;KashFX.com provides links to&nbsp;other web sites that may be&nbsp;of&nbsp;interest or&nbsp;of&nbsp;use to&nbsp;Users solely for the convenience of&nbsp;Users. Any such linked site does not constitute part of&nbsp;the KashFX.com Network unless expressly stated. KashFX.com is&nbsp;not responsible for the privacy practices, or&nbsp;the content of&nbsp;any such web sites.</p>
	<p>5.2&nbsp;User acknowledges and agrees that KashFX.com (and its directors, affiliates, officers, employees and agents) give no&nbsp;warranties or&nbsp;representations in&nbsp;connection with any links to&nbsp;other web sites or&nbsp;the operations of&nbsp;those web sites and in&nbsp;no&nbsp;way guarantees the use of&nbsp;such web sites or&nbsp;the services offered, included but not limited to&nbsp;the services of&nbsp;any Exchange Provider.</p>
	<h2 id="7">6.&nbsp;Waiver</h2>
	<p>Failure to&nbsp;exercise or&nbsp;delay in&nbsp;exercising any right, power or&nbsp;remedy hereunder by&nbsp;Issuer shall not operate as&nbsp;waiver thereof, nor shall any single or&nbsp;partial exercise of&nbsp;any right, power or&nbsp;remedy of&nbsp;Issuer hereunder preclude any other or&nbsp;future exercise thereof or&nbsp;the exercise of&nbsp;any other right, power or&nbsp;remedy.</p>
	<h2 id="8">7.&nbsp;Assignment</h2>
	<p>The provisions of&nbsp;this Agreement shall be&nbsp;continuous and shall inure to&nbsp;the benefit of&nbsp;Issuer, its successors and assigns, and shall be&nbsp;binding upon User and/or the estate, personal representatives, administrators and successors of&nbsp;User. Issuer may assign its rights and delegate its duties as&nbsp;to&nbsp;any or&nbsp;all transactions under this Agreement. User shall not delegate any obligations hereunder without the prior written consent of&nbsp;a&nbsp;duly authorized officer of&nbsp;Issuer and any attempt at&nbsp;such delegation without such consent shall be&nbsp;void.</p>
	<h2 id="9">8.&nbsp;Jurisdiction</h2>
	<p>This Account Agreement is&nbsp;governed by&nbsp;the laws of&nbsp;British Virgin Islands as&nbsp;such laws are applied to&nbsp;agreements entered into and to&nbsp;be&nbsp;performed entirely within British Virgin Islands  by&nbsp;British Virgin Islands residents.</p>
	<h2 id="10">9.&nbsp;Severability</h2>
	<p>In&nbsp;the event that any provisions of&nbsp;this Agreement shall be&nbsp;determined by&nbsp;an&nbsp;arbitration body or&nbsp;a&nbsp;court of&nbsp;competent jurisdiction to&nbsp;be&nbsp;unenforceable in&nbsp;any jurisdictions, such provision shall be&nbsp;unenforceable in&nbsp;that jurisdiction and the remainder of&nbsp;this Agreement shall remain binding upon the parties as&nbsp;if&nbsp;such provisions were not contained therein. The enforceability of&nbsp;such provision shall otherwise be&nbsp;unaffected and remain enforceable in&nbsp;all other jurisdictions.</p>
	<h2 id="11">10.&nbsp;Entire Agreement</h2>
	<p>This Agreement constitutes the entire and whole Agreement between User and Issuer and is&nbsp;intended as&nbsp;a&nbsp;complete and exclusive statement of&nbsp;the terms of&nbsp;the Agreement. This Agreement shall supersede all other communications between the parties. This Agreement may be&nbsp;amended only upon execution of&nbsp;a&nbsp;subsequent agreement or&nbsp;upon User&#146;s&nbsp;failure to&nbsp;object within 10&nbsp;days to&nbsp;modifications posted on&nbsp;Issuer&#146;s&nbsp;website.</p>
	<p><span style="font-size: 7pt">Last updated 2011-04-04</span></p>
